Investment Management Associates Inc. ADV Has $13.60 Million Stake in McKesson Corporation $MCK

Investment Management Associates Inc. ADV decreased its stake in shares of McKesson Corporation (NYSE:MCK) by 25.4% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 18,560 shares of the company’s stock after selling 6,315 shares during the quarter. McKesson comprises about 4.6% of Investment Management Associates Inc. ADV’s portfolio, making the stock its 10th largest holding. Investment Management Associates Inc. ADV’s holdings in McKesson were worth $13,600,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of MCK. Solstein Capital LLC boosted its position in shares of McKesson by 171.4% during the second quarter. Solstein Capital LLC now owns 38 shares of the company’s stock worth $28,000 after acquiring an additional 24 shares during the last quarter. Bank of Jackson Hole Trust grew its stake in shares of McKesson by 64.3% in the 1st quarter. Bank of Jackson Hole Trust now owns 46 shares of the company’s stock worth $29,000 after buying an additional 18 shares in the last quarter. CBIZ Investment Advisory Services LLC grew its stake in shares of McKesson by 1,366.7% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 44 shares of the company’s stock worth $30,000 after buying an additional 41 shares in the last quarter. GFG Capital LLC purchased a new position in shares of McKesson in the 2nd quarter worth $30,000. Finally, Saudi Central Bank purchased a new position in shares of McKesson in the 1st quarter worth $34,000. Institutional investors own 85.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Leerink Partners lifted their price objective on shares of McKesson from $785.00 to $850.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 24th. Wells Fargo & Company lifted their price objective on shares of McKesson from $772.00 to $816.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 24th. Morgan Stanley lifted their price objective on shares of McKesson from $810.00 to $857.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 24th. Weiss Ratings reissued a “buy (b)” rating on shares of McKesson in a research note on Wednesday, October 8th. Finally, Jefferies Financial Group lifted their price objective on shares of McKesson from $820.00 to $900.00 and gave the stock a “buy” rating in a research note on Monday, October 13th. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $839.15.

Insider Activity

In related news, CEO Brian S. Tyler sold 11,930 shares of the firm’s stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $705.63, for a total value of $8,418,165.90. Following the transaction, the chief executive officer owned 4,012 shares of the company’s stock, valued at $2,830,987.56. This trade represents a 74.83% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Napoleon B. Rutledge, Jr. sold 329 shares of the firm’s stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $663.67, for a total transaction of $218,347.43. Following the completion of the transaction, the chief accounting officer directly owned 657 shares in the company, valued at $436,031.19. This represents a 33.37% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 24,189 shares of company stock valued at $16,722,190 in the last 90 days. Company insiders own 0.08% of the company’s stock.

McKesson Trading Up 0.4%

McKesson stock opened at $808.02 on Thursday. The firm has a 50-day moving average price of $736.50 and a 200-day moving average price of $717.23. The firm has a market capitalization of $100.50 billion, a PE ratio of 32.22, a price-to-earnings-growth ratio of 1.45 and a beta of 0.52. McKesson Corporation has a 12-month low of $492.39 and a 12-month high of $812.69.

McKesson (NYSE:MCK) last released its earnings results on Wednesday, August 6th. The company reported $8.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $8.33 by ($0.07). The firm had revenue of $97.83 billion during the quarter, compared to the consensus estimate of $95.93 billion. McKesson had a negative return on equity of 196.66% and a net margin of 0.84%.McKesson’s revenue was up 23.4% compared to the same quarter last year. During the same quarter last year, the business posted $7.88 EPS. As a group, sell-side analysts predict that McKesson Corporation will post 32.77 earnings per share for the current fiscal year.

McKesson Company Profile

McKesson Corporation provides healthcare services in the United States and internationally. It operates through four segments: U.S. Pharmaceutical, Prescription Technology Solutions (RxTS), Medical-Surgical Solutions, and International. The U.S. Pharmaceutical segment distributes branded, generic, specialty, biosimilar and over-the-counter pharmaceutical drugs, and other healthcare-related products.